First National Bank - Woodruff, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10593
Charter Number: 10593
Start Date: December 20, 1934
Location: Woodruff, South Carolina (34.740, -82.037)

Metadata

Model: gpt-5-mini
Short Digest: c2df014d

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-11-10
Date receivership terminated: 1938-04-14
Share of assets assessed as good: 48.4%
Share of assets assessed as doubtful: 46.8%
Share of assets assessed as worthless: 4.7%

Description

Article (Dec 20–21, 1934) reports a receiver (John C. Lanham) for the First National Bank, Woodruff, distributing a 25% dividend and states the bank has been closed (13 months prior). No mention of a depositor run; bank is in receivership and remains closed—classifies as suspension leading to closure/receivership.

Events (4)

1. August 1, 1914 Chartered

Source: historical_nic

2. November 10, 1933 Receivership

Source: historical_nic

3. December 20, 1934 Receivership

Newspaper Excerpt: John C. Lanham, receiver for the First National bank, announced he would be in Woodruff tomorrow ... for the purpose of paying depositors the bank 25 per cent dividend. This will make total 80 per cent paid within 13 months of the bank's closing.
Source: newspapers

4. December 21, 1934 Other

Newspaper Excerpt: All depositors are requested to secure their checks tomorrow.
Source: newspapers

Newspaper Articles (1)

1. December 21, 1934 The Greenville News Greenville, SC

Article from The Greenville News, December 21, 1934

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Article Text

Bank Receiver To Distribute Checks At Woodruff Today WOODRUFF. Dec. 20-John C. Lanham, receiver for the First National bank, announced he would be in Woodruff tomorrow between the hours of 10 a. m. and m. for the purpose of paying depositors the bank 25 per cent dividend. This will make total 80 per cent paid within 13 months of the bank's closing. All depositors are requested to secure their checks tomorrow.